It is understood there could be around £2million of assets left within the charity.

The case is expected to be heard this month.

If a specialist insolvency judge agrees to wind up the charity and its associated limited companies, the Kids Company finances will be pored over by receivers, in a bid to secure any cash back for creditors.

But the court application suggests this will never happen under Kids Company's current guise.

Express.co.uk understands the Insolvency Service may appoint an official receiver to intervene in any winding up of Kids Company on grounds of public interest, due to the high level of public money involved.